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Chidambaram remains non-cooperative, CBI may ask for extension of custody: Sources
8/26/2019 12:05:52 AM
Agencies

New Delhi, Aug 25: Sources have told national channel that the CBI may ask for an extension of P Chidambaram's custody.
Senior Congress leader P Chidambaram, who is hoping to not spend another night in the CBI's lock-up on Monday, has been non-cooperative during the interrogation, sources said.
According to sources, the former finance minister was grilled over the FIPB approvals granted by his then ministry from 2004 to 2008 and 2012 to 2014. However, when the interrogators asked him about the INX media approvals files, he allegedly remained silent and non-cooperative.
Sources have told that the CBI may ask for an extension of P Chidambaram's custody.
As per reports it has learnt that the CBI provided him with a list of all the clearances given by him while he was the finance minister and has asked to explain the procedures followed during the FIPB approvals. It has been alleged that Chidambaram knowingly approved the FIPB files of INX media containing violation to benefit his son Karti Chidambaram.
However, the CBI will keep a close eye on the Supreme Court proceedings in which the arrest by CBI has been challenged by P Chidambaram through his lawyers.
The Enforcement Directorate which has been demanding custodial interrogation of P Chidambaram has opposed the plea filed by Chidambaram's lawyer in Supreme Court that he should be granted anticipatory bail.
Both the matters will be heard by Supreme Court on Monday.
Former DEA secretary D Subbarao had told CBI in INX Media case that "violations" in the deal approving the Foreign Direct Investment (FDI) for the company were not brought to the notice of the Foreign Investment Promotion Board (FIPB), reveal official records.
Subbarao, who was the chairman of the FIPB which gave clearance to INX Media, recorded his statement under Section 161 of the CrPC saying "the non-compliance of the procedure by INX Media was not brought to the notice of the board, hence they were not aware of it."
"The two pages note prepared by the FIPB secretariat annexed with the application of INX Media also did not have any violation or non-compliance details," Subbarao said in his statement to CBI.
"Everything was clear in papers and hence the board recommended for approval to the then finance minister," Subbarao added.
According to allegations, on May 31, INX Media got a Foreign Investment Promotion Board (FIPB) approval to bring in Rs 50 crore FDI from Mauritius. But the taxmen found the company had brought in Rs 305 crore.
To finalise the deal, Indrani Mukerjea, who headed INX Media and turned approver in the case in July this year, claims desperately to end the tax heat she and her husband Peter Mukerjea, met the then finance minister.
She in her statement has alleged Chidambaram promised a post-facto FIPB approval and demanded the Mukerjeas pay Rs 5 crore to a company associated with Karti Chidambaram. Negotiations started in June 2008 and payments were made during September 2008. On November 11, 2008, the FIPB provided the approval INX Media needed.
In the approval, signed by then undersecretary of FIPB, R Prasad, "Foreign Equity Participation was increased from 12.82 per cent to 24.83 per cent in paid capital for the sum of Rs 7,37,50,000 of INX Media Pvt Ltd."
According to the findings, Advantage Strategic Consulting Pvt Ltd (ASCPL), a company allegedly owned by Karti Chidambaram, had received the fund in the guise of consultancy charges from some more companies/individuals that have received FIPB approval from Ministry of Finance. The investigation further revealed that ASCPL never had the requisite staff to render any consultancy or tender advice.
"Further documents suggests that since inception M/S ASCPL is being controlled by Karti Chidambaram," said a source.
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